Algorand Price Bounces Off Resistance Near $0.14 Amid Bullish Trend

The Algorand price has been showing a bullish trend above $0.1017 after surging 11.5% this week and pulling back from a fresh high near $0.14.

According to Bitget, the current resistance zone stretches roughly from $0.135 to $0.14, which marks a pocket of untaken liquidity from earlier this year.

The weekly chart shows that ALGO broke out of its consolidation range since early this year, ranging between $0.095 and $0.135.

However, the price still remains below the 100-week EMA at $0.15453 and the 200-week EMA at $0.23709, indicating how far this year's downtrend has carried the price from its longer-term averages.